If a company embraces the values of ethics, honesty, integrity, halal, no involvement in riba' and loyalty one is actually indirectly positioning and marketing the company products among the customers. The company values and believe is represented and presence in the product itself -both of physical products and services.
How ? Let us have a look at how was Prophet Muhammad pbuh showed us the example [ He was well known among the business community as Al-Ameen ];
Product- always sold the best products and best of qualities, never did he put and mix both the good products and bad products in the same basket or place;
Price- the products were price reasonably. While profitability is the prime motivation for business survival over long run, he made profit but not EXCESS profit. His products were always sold out ;
Placement- If the business always did well, with all the commodities were sold out, Muhammad was the man of integrity, honesty, loyalty, ethical people the customers would still go to him and looking forward to buy products from him.
Promotion- I am not sure how was promotion done back then, during Prophet Muhammad 's time. I do not think there was such thing like internet, social media [ Facebook, Twitter] etc, but I believe it was happening back then, but just that in a different forms and formats. One that I can think of is words of mouth was one of the most powerful marketing tool and is still. Prophet Muhammad's personality and values speak for himself, and translated into the business.
The above are some of the points that I can recall from my Principles of Marketing classes, taught by Professor Azura. Of course there are more. As I was not a brilliant student back then. I managed to get B for the subject. [B : 70-79 %] and come to think about it, not bad eh.
How should Malaysian firms compete with global firms?
Kotler offers three ways to do so, one of which is to exploit understanding of the local markets, for example fast food in the US.
Jollibee Foods, Nando's and Paollo Campero used their understanding of local perferences to cater to the tastebuds of the diaspora from their home markets.
Secondly, he suggested building on familiarity with local resources as done by Haier.
Haier had created a distribution and service network that covers not only urban markets but also in semi-urban and rural China.
Another example he cited was the India IT firms' talent advantage where TATA Consultancy Services, WIPRO and Infosys have tapped the global capital and talent markets, beating their overseas rivals.
The third way is for private sector businesses to fill institutional voids.
"Only governments can set up certain institutions, but companies can own and profitably operate many kinds of intermediaries in product and factor markets," he said.
DISCLAIMER: Notice :Opinions, stories , thoughts expressed are blogger's own and do not necessarily represent the views of the institution or the organizations by which the blogger is employed or any specific person who so ever, either dead or alive.
Hi! I am a green e-mail! Unlike my brothers and sisters, my presence on the Internet does not harm our environment. Please go to greenscroll.org and help make the Internet green like me! 
No comments:
Post a Comment